How will you feel if telecoms sector companies reduce the cost of data and call at this time that inflation is rising?
Indeed, many Nigerians will have a reason to smile again and shift their attention from discussion around politics and election.
It could happen and that is because the telecoms sector has been excluded from 5% excise duty charge.
The Federal Government (FG), it is believed, must have had a rethink on its decision to overburden a sector doing so well with tax.
Therefore, the FG announced that the proposed 5% excise duty on telecommunication services to tax calls and data has been removed.
Why Tax Was Removed
This means that it has not all been sad and gloom for the people of Nigeria who have gone through a very difficult time with the cashless policy and scarcity of the Naira.
Making the disclosure on Tuesday at a press briefing, the Minister of Communications and Digital Economy, Isa Pantami, said: “I am happy to report to you that President Muhammadu Buhari, has exemption of the digital economy sector from paying 5% excise duty”.
According to him, “the government announced that the decision was in line with the recommendations of a committee, the Presidential Review Committee on Excise Duty in the Digital Economy Sector”.
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The committee was constituted to review the implementation of excise duty in the telecoms sector.
Pantami, who is the chairman of the committee, is happy about the progress.
“I am happy to report to you that President Muhammadu Buhari has approved the exemption of the digital economy sector from the five per cent excise duty to be paid.
“This is because of the strength of the argument presented to him by the Committee that additional burden on telecom sector will increase the sufferings of Nigerians.
“Also other sectors that are not making as much contribution to the economy should be challenged to do more and pay the five per cent excise duty”.
